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SHERIDAN, WYOMING, USA, July 25, 2022 / — According to IMARC Group’s latest report, “Indoor LBS Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the The domestic LBS market reached a value of US$10.7 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$34.0 billion by 2027, posting a CAGR of 19.9% ​​over the period 2022-2027.

Indoor Location Service (LBS) is a technological solution used to track the location of an object or an individual inside a confined space. LBS solutions are limited to small geographic perimeters and operate through various wireless networks, such as Global Positioning System (GPS), Wi-Fi, Microelectronic Mechanical System (MEMS), Wireless Local Area Networks (WLAN) , etc. information for smartphone users: mapping and navigation, in-store product search, Bluetooth-assisted proximity services, mobile payments, etc. These solutions thus find widespread applications in several sectors, such as aerospace, defense, BFSI, health, retail, hospitality, transport, etc.

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Market trends

Growing number of infrastructure development projects and growing use of geospatial data in amusement parks, educational institutions, shopping malls, shopping complexes, hospitals, etc. are mainly driving the domestic LBS market . Additionally, the growing popularity of connected devices, including tablets and smartphones, which help marketers conduct effective geomarketing by targeting potential customers through social check-ins and engaging with their audience by offering personalized offers, further increases the growth of the market. Apart from this, the growing requirement for LBS solutions to provide enhanced assistance and security to authorities in monitoring and tracking public activities is also catalyzing the global market. Moreover, the increasing use of various technologies, such as artificial intelligence (AI), cloud computing and big data tools, in optimizing business processes and determining the layout of the plan for implementation lean manufacturing processes is expected to bolster the domestic LBS market over the forecast. period.

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The report has segmented the market on the basis of solution type, technology, application, vertical, and region.

Breakdown by type of solution:

Analysis and information
Campaign management
Business services
Location and Alerts
Proximity tags
Automotive services
Consumer services
Location-Based Advertising Services
Precision geo-targeting
Secure transactions and redemptions

Breakdown by technology:

Context-Aware Technology
Satellite, microwave and infrared detection
Others (Wi-Fi/WLAN, UWB, BT/BLE, Beacons, A-GPS, etc.)

Breakdown by application:


Vertical distribution:

Transport and logistics
Media and Entertainment
Health and life sciences
Government and public buildings
Aeronautics and Defense

Breakdown by region:

North America
Asia Pacific
Latin America
Middle East and Africa

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The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.

Elena Anderson
IMARC Services Private Limited
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